Examples of trustee in a Sentence
They were named as trustees to the child's estate.
the museum's board of trustees
Recent Examples of trustee from the Web
The youngest child of the president and his first wife Ivana, Eric currently serves as an executive vice president and trustee at the Trump Organization with his older brother Don Jr. The Trump middle child is reportedly worth $300 million.
Auburn associate vice president for facilities Dan King and Jacobs are scheduled to address the proposals before the board's property and facilities committee during the board of trustees meeting on Nov. 10.
Robert Mann, a University of Miami trustee and longtime philanthropist, died Thursday.
Nowadays, the winning medium-size wheeled soccer team plays an exhibition match against the human trustees who run the competition.
Social Security may be facing unfunded liabilities in excess of $34 trillion according to the program’s trustees, and Medicare may be facing a shortfall of more than $50 trillion, but the president simply refuses to acknowledge the problem.
Kyle Hufford ran in 2013 and lost to currently serving trustee Gwen McFarlin, 76, who is up for re-election in 2019 and has served on the Board of Trustees since 1995.
Louisville trustees fired Jurich Wednesday in the wake of the school's involvement in a national federal investigation of college basketball.
On dedication day, trustee Gerald Lopez speaks of three ingredients: tradition, respect, and courage.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'trustee.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
First Known Use of trustee
First Known Use of trustee
Financial Definition of TRUSTEE
What It Is
A trustee holds or manages cash, assets or a property title for a beneficiary. The trustee has a fiduciary duty to act in the best interest of the beneficiary.
Trustees play an important role for businesses and individuals. In many cases, trustees make sure that assets held on behalf of individuals or companies are not misused.
How It Works
Let's assume Company XYZ issues $100 million of bonds. Company XYZ will appoint a trustee, usually a bank, to act on behalf of the bondholders. The trustee maintains lists of the bondholders in addition to receiving and distributing interest payments. The trustee also monitors Company XYZ's compliance with the agreements and communicates with the bondholders when the issuer is not in compliance.
Why It Matters
In our example, the trustee is effectively the go-between for Company XYZ and the bondholders (but its allegiance is to the bondholders), and the trustee receives a fee from Company XYZ for performing this role. The presence of a trustee also gives Company XYZ a single point of contact for the bondholders and eliminates a considerable amount of administrative work for Company XYZ.
As mentioned earlier, the trustee's job is to act in the best interests of the beneficiary. This responsitrusteelity is called fiduciary duty, and the trustee is legally obligated to uphold this duty. If the trustee fails to do so, they could be legally liable for damages.
TRUSTEE Defined for English Language Learners
TRUSTEE Defined for Kids
legal Definition of trustee
Seen and Heard
What made you want to look up trustee? Please tell us where you read or heard it (including the quote, if possible).